Question

Why do you save? Why do others save? How do we save?

Discuss three reasons why you would save money.....and discuss three ways the government couldencourage people to save more money

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Answer 1

The main reason anyone will save money is for survival or for any future uses. We save money mostly by saving in banks.

Everyone will have their own reasons to save money. I save money to have a happy life so that I can buy a house, car and also requirements for my future use where I no need to worry about getting money during emergancy.

In the same way other save money for different purposes which cannot be saidm as it depends on their requirements and intrests.

Three reasons to save money

1) For having financial security and stability : If we have money we no need worry about money during emergencies or any other situations

2) To buy properties which to have luxury life.: To buy a house , car , properties etc which will make us to have a better life.

3) So that sometimes we can take calculated financial risk: If we save money we can start business or any some other thing we want to try hand out.

Three ways to government encourage people save money.

1) Government should tax excemptions on saving: This tax excemptions will lead to more people to save money in bank

2) Government should make banks to increase intrest rates on saving: So more savings will fetch them more intrest rates which will lead more people to save money.